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ICOM Part 2 English Medium Principles of Banking Chapter 11 MCQ's Test
Start Chapter 11 TestICOM Part 2 Principles of Banking Chapter Wise Online MCQ's Test
MCQ's Test For Chapter 0 "Principles of Banking Icom Part 2 English Medium Chapter 11 Online Test"
Try The MCQ's Test For Chapter 0 "Principles of Banking Icom Part 2 English Medium Chapter 11 Online Test"
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Total Questions15
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Time Allowed20
Principles of Banking Icom Part 2 English Medium Chapter 11 Online Test
00:00
Question # 1
Which of the following is a non-commercial letter of credit
Question # 2
Which letter of credit is automatically renewed by fulfilling certain conditions
Question # 3
Which type of letter of credit authorized the exporter to obtain an advance before the shipment of goods
Question # 4
Which letter of credit is issued for a single or particular transaction:
Question # 5
Which one can be crossed :
Question # 6
Which of the following parties of a letter of credit is called beneficiary
Question # 7
The first stage or step between importer and exporter for the purpose of sale and purchase is:
Question # 8
The important types of banker's letter of credit:
Question # 9
The letter of credit which can be endorsed to another person is called:
Question # 10
Which of the following can be cancelled by the issuing bank without the consent of the other parties
Question # 11
Which of the following gets facility due to commercial letter of credit:
Question # 12
I Owe You is a written instrument drawn by
Question # 13
If there is no guarantee to honour a letter of credit then it is called:
Question # 14
Which of the following is used to finance the people who want to travel abroad
Question # 15
If the exporter is not the receiver (beneficiary) of money then a letter of credit is called:
ICOM Part 2 English Medium Principles of Banking Chapter 11 MCQ's Test
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H Hassan Abid 22 - Jun - 2022 01 Min 10 Sec 15/15 -
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T Teiyr 11 - Nov - 2025 03 Min 15 Sec 14/15 -
A ALI AZAM 09 - Jul - 2021 01 Min 48 Sec 13/15
ICom Part II Principles of Banking (E.M) Chapter 0 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | The important types of banker's letter of credit: |
A. Two
B. Three
C. Four
D. None of these
|
| 2 | If the exporter is not the receiver (beneficiary) of money then a letter of credit is called: |
A. Resolving
B. Back to Back
C. Transferable
D. None of the above
|
| 3 | The letter of credit which can be endorsed to another person is called: |
A. Special L.C
B. Transferable L.C
C. Resolving L.C
D. None of the above
|
| 4 | Which of the following is useful in facilitating trade relation between the businessmen of different countries |
A. Bank draft
B. Money order
C. Letter of credit
D. Stock certificate
|
| 5 | What does the bank receive on issuing a letter of credit: |
A. Profit
B. Interest
C. Commission
D. Duty
|
| 6 | Which of the following gets facility due to commercial letter of credit: |
A. Home traders
B. Exporter
C. Importer
D. Both exporter and importer
|
| 7 | What is the nature of credit instrument IOU |
A. An autograph
B. A monograph
C. A holograph
D. A sonograph
|
| 8 | If there is no guarantee to honour a letter of credit then it is called: |
A. Confirmed letter of credit
B. Irrevocable letter of credit
C. Unconfirmed letter of credit
D. None of the above
|
| 9 | Stock certificate is a document issued by |
A. Commercial bank
B. Central bank
C. Limited companies
D. Stock-market
|
| 10 | IOU is a document |
A. Negotiable
B. Non-negotiable
C. Conditional negotiable
D. Unconditional negotiable
|
Test Questions
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